RB Global, Inc. (NYSE:RBA) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 973,043 shares of the business services provider's stock after selling 11,321 shares during the period. CIBC Asset Management Inc owned approximately 0.53% of RB Global worth $88,947,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. increased its holdings in RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock valued at $762,378,000 after purchasing an additional 753,700 shares in the last quarter. State Street Corp increased its holdings in RB Global by 2.1% in the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider's stock valued at $406,087,000 after purchasing an additional 103,080 shares in the last quarter. Geode Capital Management LLC increased its holdings in RB Global by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider's stock valued at $297,400,000 after purchasing an additional 108,188 shares in the last quarter. Janus Henderson Group PLC increased its holdings in RB Global by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider's stock valued at $272,293,000 after purchasing an additional 24,101 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in RB Global by 4.1% in the 4th quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider's stock valued at $290,000,000 after purchasing an additional 125,275 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RBA has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday. StockNews.com upgraded RB Global from a "hold" rating to a "buy" rating in a research note on Monday, January 27th. Raymond James raised their target price on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday. Royal Bank of Canada raised their target price on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Robert W. Baird raised their target price on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $107.64.

RB Global Stock Down 1.0 %

Shares of RBA stock traded down $1.10 during trading hours on Thursday, hitting $103.63. 1,237,030 shares of the company were exchanged, compared to its average volume of 1,041,486. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. RB Global, Inc. has a one year low of $65.99 and a one year high of $106.90. The business's 50-day simple moving average is $91.78 and its two-hundred day simple moving average is $88.25. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 4.02 and a beta of 0.96.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.03% and a net margin of 9.64%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $0.82 EPS. Sell-side analysts predict that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.12%. RB Global's dividend payout ratio (DPR) is presently 57.71%.

RB Global Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.